Chess, Not Checkers – Why Cash Isn’t Always King

It’s no secret that the Australian Taxation Office (ATO) is in constant pursuance of those who underreport their income. With the data-matching systems the ATO has its disposal becoming more in-depth and sophisticated, the ATO is cracking down on the ‘cash economy’ more so than ever. The ATO describes the cash economy as occurring when ‘businesses deliberately use cash transactions to hide income to avoid paying taxes’.

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Cryptocurrency – Tangible Tax on Intangible Currency

Whether you’re a believer or a sceptic of cryptocurrency (crypto) being a widely used and accepted form of currency in the future, cryptocurrency is here. Whether it’s ‘here to stay’ is a subject of debate which is leaving many people scratching their heads as to whether to shift their tangible currency into this intangible currency. The most notable crypto is Bitcoin and will be the focus of this article. The terms ‘crypto’ and ‘Bitcoin’ will be used interchangeably in this article.

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